GOLDEN, Colo. – SHF Holdings, Inc., d/b/a Safe Harbor Financial, a provider of financial services and credit facilities to the regulated cannabis industry, today announced the closing of a $500,000 loan to PI 51st Avenue, LLC, a subsidiary of Pioneer Interests, Inc, d/b/a Natty Rems, LLC.
The loan, offered under the Cannabis Resource Optimization Program (CROP) and facilitated through partnerships with the Collective Clean Energy Fund (CCEF) and Partner Colorado Credit Union (PCCU), will support energy-efficient upgrades at PI 51st Avenue’s cultivation and processing facility in Denver, Colorado.
The proceeds will allow PI 51st Avenue to invest in energy-saving lighting and other essential equipment, advancing both operational efficiency and sustainability in its cannabis production.
This unique collaboration leverages resources from CCEF, a nonprofit focused on clean energy financing, and PCCU, to offer competitive loan terms to PI 51st Avenue. Through a cash collateral arrangement and an interest rate buydown agreement provided by CCEF, the loan offers significantly reduced borrowing costs to PI 51st Avenue, underscoring Safe Harbor’s commitment to supporting sustainable practices within the cannabis industry.
“Safe Harbor’s commitment to smart lending solutions is helping us take critical steps toward reducing our environmental footprint, while improving our operations,” says Matthew Shifrin, CEO of Pioneer Interests
Cannabis cultivation facilities in Colorado account for an estimated 2% of the state’s electricity consumption, making energy efficiency crucial for both environmental impact and cost savings. Energy expenses, including electricity, natural gas and propane, represent nearly 33% of operating costs for Colorado cannabis growers. Safe Harbor’s CROP loan program enables cannabis businesses to reduce these expenses and resource usage, reaffirming Safe Harbor’s position as a leader in sustainable financing for the industry.
Paul Scharfenberger, CEO of Collective Clean Energy Fund, says, "Innovative financing solutions are key to building a sustainable future, especially in energy-intensive sectors like cannabis cultivation. This partnership represents how targeted financial support can drive meaningful energy reductions and cost savings for cannabis operators, while also supporting Colorado's broader clean energy goals."
